Oklahoma Business Incentives - 2019

Oklahoma Quality Jobs Program

• Small Employer Quality Jobs

21st Century Quality Jobs

• Quality Jobs + Investment Tax Credit

• Investment/New Jobs Tax Credit

Aerospace Engineer Tax Credits

• Ad Valorem Exemptions

• Economic Development Pooled Finance

• Former Indian Lands Tax Credit

Oklahoma Business Incentives

Cash Payments - Up to 5% of New Payroll - Up to 10 Years• $2.5 million Payroll within 3 Years of Start Date

(Locating on Former Military Land Decreases to $1.5 million)

• Create New Full-Time Positions

• Pay New Hires Average County Wage or $34,263

Quality Jobs Program

Cash Payments - Up to 5% of New Payroll - Up to 7 YearsSmall Employer

Quality Jobs (500 or Fewer

Employees)

• Create 5 - 15 New Positions within 2 years• Pay 110% of Average County Wage • Offer Basic Health Insurance• Requires 75% Out-of-State Sales

21st Century Quality Jobs

Cash Payments - Up to 10% of New Payroll - Up to 10 Years• Create 10 New Full-Time Hires within 3 Years • Pay New Hires $101,650• Requires 50% Out-of-State Sales

Oklahoma Quality Jobs Programs

Employee Benefits:

Aerospace Engineer Workforce Tax CreditEmployer Benefits:

• New Engineer Grads: • 50% Tax Credit for Reimbursed Tuition Costs • For First 4 Years of Employment

• Hire OK Grads: • Up to 10% of Wages Paid During First 5 Years of Employment • Maximum of $12,500 per Employee Annually

• Hire Non-OK Grads: • Up to 5% of Wages Paid During First 5 Years of Employment, • Maximum of $12,500 per Employee Annually

• Eligibility: Current Employed Aerospace Engineers • Eligible to Receive Individual Tax Credit • Up to $5000 Per Year for 5 Years

“…the Aerospace Engineer Workforce Tax Credit is an invaluable tool in attracting and retention of employees…” —Steve Hendrickson, Gov’t Affairs, The Boeing Company

Training & Retention

Training and Recruitment

• Reimbursement of training cost• Customized training programs• Training delivered through local CareerTech centers• Can be accomplished at your site• Supports corporate start-up and expansion• Flexible – Instructors, locations, curriculum, etc.

Oklahoma’s Talent Acquisition Team (TAT)• Project Management• Unit of employee recruiters to screen, assess and hire• Screening, locate and recruit referrals• Interview applicants• Job Fair Management• Partnership that becomes an extension of your HR department• OKJobMatch is Oklahoma’s premier online system for matching business with

qualified jobseekers

Training for Industry Program (TIP)

Training & Retention

Tax Incentives

• Allows for a 5 year abatement of property tax on qualified capital investment

Ad Valorem Abatement

Freeport Exemption• Exempted tax on inventory in the state for up to 9 months

• On goods, services, and consumables used in the manufacturing process, including electricity

Sales Tax Exemption

Oklahoma Tax Incentives

“The primary goal of ACES is to establish a common statewide strategy for the growth of the Oklahoma aerospace industry.”

(HB 2578)